The crypto landscape is buzzing with the emergence of Collateral Network (COLT), which has already experienced a 40% surge in price during its presale phase, leaving established cryptocurrencies like Tron (TRX) and Quant (QNT) trailing behind. Let’s examine the factors contributing to the Collateral Network (COLT) outstanding performance and discuss whether it has the potential to become the biggest success story of 2023.
Collateral Network (COLT)
Collateral Network (COLT) introduces an innovative crowdlending platform that streamlines access to funds, bypassing the complexities associated with traditional banks. The distinguishing feature of Collateral Network (COLT) lies in its distinctive approach to asset-backed collateral.
Rather than demanding extensive paperwork and credit evaluations, Collateral Network (COLT) merely requires a tangible asset to serve as collateral for the loan. Once the asset is appraised, Collateral Network (COLT) mints a fractionalized NFT that depicts the asset, making it fully asset-backed, and securely registers it on the blockchain.
By fractionalizing collateral, Collateral Network (COLT) broadens the lending market to accommodate a more diverse range of lenders, as it enables fractional lending. Consequently, lenders on Collateral Network (COLT) can grant loans without committing substantial amounts of capital as well as earn a weekly income at a fixed interest rate.
Collateral Network (COLT) is revolutionizing the lending process by making it more user-friendly and accessible. With an $8 billion lending market offering ample room for expansion, Collateral Network (COLT) is well-positioned to drive growth in this sector.
The Collateral Network (COLT) presale presents a unique opportunity for investors to acquire the native COLT token at $0.014. Given its potential to transform a multi-billion-dollar market, now is the ideal moment to capitalize on the presale and join the Collateral Network (COLT) journey before it lists on major exchanges and could surge by 100x further.
Tron (TRX) is a decentralized platform that aims to build the infrastructure for a truly decentralized internet. Using blockchain technology, Tron (TRX) enables developers to create and deploy applications on its network without middlemen or censorship.
Tron (TRX) rose to prominence during 2018 — growing from $0.0015 to over $0.30 in just two months. This can be attributed to Justin Sun’s aggressive marketing, which saw Tron (TRX) become a household name. Although Tron (TRX) has managed to remain popular throughout the years, it no longer stands out in a market saturated with blockchain-based platforms.
The blockchain sector predominantly prefers Ethereum (ETH) as the primary choice for dApps and smart contract creation, often overlooking Tron (TRX). The recent price behavior for Tron (TRX) reflects this diminished investor confidence.
With a decline of over 78% since its 2018 peak at $0.30, Tron (TRX) has not reached a new high for more than five years. Tron (TRX) is not performing well recently either, with a 2% loss in the last seven days.
Quant (QNT) is a decentralized blockchain system designed to provide trust and security for the global financial system. Quant (QNT) enables businesses to transact over its network with lower fees, faster transaction speeds, and improved scalability.
The price of Quant (QNT) has been performing well since it was released in 2019. In fact, Quant (QNT) was one of the only cryptos to gain during the 2022 bear market — going from $56 to above $190 in just four months.
However, the recent price action of Quant (QNT) has been sluggish. In the last seven days, Quant (QNT) saw a loss of 3%. This is at a time where the whole crypto sector is printing gains, with Bitcoin (BTC) and Ethereum (ETH) both up by more than 10%.
Market analysts predict that Quant (QNT) will range between $100 and $150 in the near term, as investor confidence is waning. Hence, Quant (QNT) needs a catalyst to push it back into the bull’s territory and gain momentum.
Find out more about the Collateral Network presale here:
Follow Us on Twitter and Facebook.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.